Starting a career in insurance is easier than you might think.
To enrol in the Insurance Practitioner Apprenticeship, you just need to have achieved a minimum of two honours in your Leaving Cert, along with four additional passes that should include English/Irish and Maths. After meeting these requirements, you will go through an interview process with an insurance employer. This apprenticeship offers you a direct path to an amazing career, bypassing the usual chaos associated with the CAO process.
Applicants over 23 years of age on January 1st of the year of entry may be assessed using interviews and other selection tools instead of meeting the Leaving Cert entry requirements.
2.Earn While You Learn
Consider a different path for your career development that breaks away from the traditional three-year degree model. The Insurance Institute’s Insurance Practitioner Apprenticeship offers a unique opportunity to gain practical, paid experience in the insurance industry while you study for a level 8 honours degree.
With this programme, you can hit the ground running in your career, bypassing the common struggle of being highly qualified but lacking experience in a competitive job market. Plus, unlike traditional education, you don’t have to face the burden of hefty student loans. The Insurance Practitioner Apprenticeship allows you to earn money while you study, making it a financially sensible choice for your future.
3.There Are Endless Opportunities
Programmes like the Insurance Practitioner Apprenticeship were created to address the skills shortage specifically in the insurance industry in Ireland and attract young talent to future-proof the sector. As a result, there are ample job opportunities in this thriving industry.
With the arrival of major insurance companies in Ireland over the last few years, there has been a significant increase in job openings in the industry and Ireland alone boasts of 500 insurance organizations, offering plenty of opportunities in the field.
Depending on your skillset, and which areas interest you the most, you could opt to become an actuary who assesses risk, a claims adjuster who assists clients who have experienced losses, or an underwriter who evaluates potential clients and establishes policy prices. These positions, along with many others in the industry, allow you to develop a specific set of skills, which can open up a range of different avenues for you to pursue.
4.Insurance Is a Career with a Stable Future
The need for insurance is ubiquitous, as risk will always exist, and people will always need to mitigate it. Lots of international insurance companies are thriving precisely because they provide a service that is always in high demand. It is an age-old industry that has endured the test of time and will continue to do so as long as people require medical care, drive cars, own homes, and run businesses.
Even during economic downturns, insurance remains a reliable sector because people and businesses will always require protection against risks. Overall, employment in insurance companies or independent agencies provide greater job security compared to other industries.
5.Earnings & Benefits
If you’re considering a career in the insurance industry in Ireland, you’ll be pleased to know that most jobs come with a range of excellent benefits. In addition to a competitive salary, insurance companies often offer a comprehensive benefits package that includes a pension plan, healthcare coverage, and a yearly performance-related bonus.
Employee discounts are very common, allowing you to save money on a range of products and services, and many companies will provide educational assistance, to help their employees to continue their professional development and stay up to date with industry advancements.
The list of benefits goes on, making a career in insurance a smart choice for those seeking not only a rewarding career, but also very valuable financial and personal perks.
6.Developing a Broad Skillset
While being a successful salesperson with customer and client management skills are valuable assets when working in insurance, they are not the only requirements for the job. The industry encompasses various fields and offers numerous career paths. Employers seek out workers who possess a broad range of different skills, such as:
• Technological proficiency
• Strong problem-solving abilities
• Research expertise
• Analytical skills
• Organizational capabilities
The insurance industry is continuously adapting to meet the changing needs of its customers. Consequently, companies are now also interested in hiring professionals who understand digital marketing, social media, and cyber communication. By developing a broad skill set, you can open yourself to up various opportunities in the insurance industry and advance your career long-term.
7.Flexible Working Models Have Taken Over
Chances are that your insurance career won’t confine you to a desk for the entirety of your working life. Depending on your role, you may need to venture out into the field, courts, or to your clients, to carry out insurance-related tasks.
The COVID-19 pandemic has forced many businesses, including those in the insurance industry in Ireland, to adopt hybrid working models.
With the rise of these remote/hybrid working arrangements, insurance companies have been able to hire talent from a wider geographical area, allowing them to attract the best candidates from a wider pool, regardless of location.
Hybrid working models are offering more flexibility for employees, allowing them to work from home when needed, which can lead to increased job satisfaction and improved work-life balance. Overall, these models have become increasingly popular in the insurance industry in Ireland and around the world as businesses adapt to the changing nature of work.
8.Interesting Work
Working in insurance is not what you might expect. It’s a constantly evolving industry that requires innovative and creative minds to manage risks related to new technologies like driverless cars, drones, 3D printers, wearables, and the Internet of Things.
The industry offers a range of interesting and unique aspects, from insuring unusual professions like piano tuners and body-part insurance for actors, to insuring risks such as earthquakes, aviation, aerospace and even terrorism attacks. The insurance industry is a dynamic and exciting field that rewards those who think outside the box and are passionate about protecting people and their assets.
9.Meaningful Work
Insurance allows people and businesses to concentrate on the things that matter most to them. By protecting members of a community, insurers help individuals share risk and protect each other when tragedy strikes.
For instance, insurance can help rebuild a home after a fire, provide for loved ones after a death, or support workers injured on the job. These are not just financial transactions, but critical moments when insurance can make a real difference in people’s lives.
A sudden illness, natural disaster, or accident can turn someone’s world upside down, and that’s where insurance offers peace of mind, by protecting individuals and businesses from the financial consequences of unexpected events. This is a concept that resonates with job seekers who are looking for more than just a pay check, who want to make a difference in their communities and find purpose in their work.
If you are a person seeking purpose and more meaning in your career, then the insurance industry will provide you with a way to do just that.